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AMC Entertainment Trading 15% Higher

Shares of movie theater chain AMC Entertainment Holdings, Inc. (AMC) are surging more than 15% Wednesday morning at $7.01.

Tuesday, the company said, 70% of U.S. AMC theatres will resume operations by this weekend across the country. The company has about 1,000 theaters and 11,000 screens around the world.

Most of the reopenings are planned on Thursday when Warner Bros.' TENET opens in the United States.

On August 31, the company had announced the signing of an agreement to sell its Baltic Region theaters to UP Invest, owner of a Baltics cinema group, for about $77 million.

The stock has traded in the range of $1.95- $12.13 in the past one year.

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